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Intro to Binomial Distribution

This free tutorial covers binomial distribution and the Bernoulli experiment using a real-world example of how hotels juggle vacancy to maximize profits.

Why learn about

binomial distribution?

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This lesson is an efficient way to get real hands-on experience with data science fundamentals you’ll need to prepare for our immersive data science course.

What you’ll learn

The travel and hospitality industries rely on technology to help them make and keep their operations profitable. In this free lesson, you’ll learn how to help hotel owners and managers work toward filling as many rooms as possible while getting the best prices.

We will explore one method to help maximize profitability by optimizing bookings with Python.

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Frequently asked questions

The binomial distribution describes the probability of a “success” versus “failure” when running an experiment multiple times in a row. A typical application of a binomial process is a coin toss, where you have two possible outcomes: either heads or tails. There are many applications of the binomial distribution, but any process that is defined by the binomial distribution has 2 and only 2 possible outcomes.

When you are running multiple Bernoulli experiments, and you want to get a better sense of what the probability is of observing success (or failure), you can use the binomial distribution.

A Bernoulli experiment is an experiment that has two possible outcomes, generally described as “failure” or “success”. A typical example of the Bernoulli experiment is flipping a coin. When flipping a coin, the probability of head is 0.5, as well as the probability of tail, which is the other possible event. Bernoulli outcomes don’t necessarily need to have a split 50-50% chance. For example, scoring a penalty kick in soccer is an example of a Bernoulli experiment, where the chance of scoring is generally higher (~80%) than the chance of missing (~20%).

Yes, our Introduction to Binomial Distribution & Bernoulli Experiments is entirely free , just like the rest of our workshops and tutorials.

If you’re looking to learn binomial distribution and understand the Bernoulli experiments, this is a perfect place for you to start.